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Jun 04, 2007 - 10:17 ET
Bayou Bend Spuds First Well in Federal Waters of Gulf of Mexico
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 4, 2007) - (TSX VENTURE:BBP) Bayou Bend Petroleum Ltd. ("Bayou Bend" or "the Company") is pleased to announce that the West Cameron Block 332 well was spud on June 2, 2007 by Cairn USA, the project operator utilizing the rig Pride Georgia. The Company holds a 25% interest in the project.|
The project comprises 5,000 acres in the Gulf of Mexico Outer Continental Shelf offshore Louisiana. The prospect is a structural pressured Miocene test with strong amplitude and AVO support. The well will be drilled to a depth of 14,250' TVD/MD. If successful, the well will be completed and tied into existing infrastructure.
"This is an exciting day for Bayou Bend to spud its first well in the Federal Waters of the Gulf of Mexico. This will be the first of three scheduled projects in the Federal Waters in 2007," commented Clinton W. Coldren, President and Chief Executive Officer of Bayou Bend.
Bayou Bend is an oil and gas exploration and production company with a focus in the Gulf of Mexico shallow water shelf area. The Company has lease interests in the State Waters of Louisiana near Marsh Island and owns a 100% interest in several Federal OCS blocks offshore Louisiana and Texas. The Company has an aggressive drilling program planned for 2007 including a minimum of 7 exploration wells.
This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbor for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.
On Behalf of the Board
Clinton W. Coldren, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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